Short answer
Lockheed Martin (LMT) filed its Q3 2025 10-Q quarterly report on Oct 21, 2025 for the quarter ended Sep 28, 2025. Quarterly revenue was $18.6B (up 8.8% year over year) with net income of $1.6B.
Q3 2025 key financials · XBRL
- Revenue
- $18.6B
- +8.8% YoY · +2.5% QoQ
- Net income
- $1.6B
- −0.2% YoY · +373.4% QoQ
- Operating margin
- 12.3%
- Gross margin
- 12.0%
- EPS (diluted)
- $6.94
- +1.9% YoY · +372.1% QoQ
Source: XBRL data from the Lockheed Martin (LMT) Q3 2025 10-Q on SEC EDGAR. USD.
Lockheed Martin Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $18.6B, up 9% YoY from $17.1B; nine-month sales $54.7B, up 4% from $52.4B
- Operating margin 12.3% ($2.3B profit on $18.6B sales) vs 12.5% ($2.1B on $17.1B) YoY Q3
- Best segment: Missiles & Fire Control $3.6B sales (+14%), operating margin 14.1% vs 14.4% YoY Q3
- Worst segment: Aeronautics margin 9.4% vs 10.2% YoY Q3, profit down 38% YoY for nine months due to classified contract losses
- Cash and equivalents $3.5B; operating cash flow $5.3B (-$611M YoY), free cash flow $4.2B (-$694M YoY) on higher working capital and investments
- Management notes risks from government shutdown, supply chain inflation, tariffs ($350M cash flow impact), and potential contract cancellations; FY26 budget uncertainty ongoing
Risk Factors
- No new risk factors added this quarter compared to 2024 Form 10-K
- No material changes in existing risk factors since 2024 Form 10-K
- Carried-forward regulatory risk includes government contract compliance and export controls
- Continued exposure to operational risks from supply chain disruptions impacting production schedules
- Financial risk from defense budget fluctuations affecting revenue and contract awards
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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